BART SIAU: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BART SIAU
Largest movements
- Receivables within one year +€55,426
up €55,426 (+13.0%), from €427,502 to €482,928
- Cash +€30,475
up €30,475 (+14.1%), from €216,520 to €246,995
mainly Net result for the year (+€85,624) and Depreciation (+€42,820)
- Reserves +€85,624
up €85,624 (+10.5%), from €817,393 to €903,017
- Financial income -€24,989
down €24,989 (-95.7%), from €26,111 to €1,122
of which Financial income: -€24,989
- Financial charges -€8,320
down €8,320 (-84.4%), from €9,856 to €1,536
- Taxes -€5,495
down €5,495 (-11.6%), from €47,503 to €42,008
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,414,607 | €1,487,747 | +€73,140 | +5.2% |
| Fixed assets | 21/28 | €769,312 | €754,836 | -€14,476 | -1.9% |
| Tangible fixed assets | 22/27 | €769,312 | €754,836 | -€14,476 | -1.9% |
| Land and buildings | 22 | €647,593 | €633,117 | -€14,476 | -2.2% |
| Other tangible fixed assets | 26 | €121,719 | €121,719 | = | 0.0% |
| Current assets | 29/58 | €645,295 | €732,911 | +€87,616 | +13.6% |
| Amounts receivable within one year | 40/41 | €427,502 | €482,928 | +€55,426 | +13.0% |
| Other amounts receivable | 41 | €427,502 | €482,928 | +€55,426 | +13.0% |
| Cash at bank and in hand | 54/58 | €216,520 | €246,995 | +€30,475 | +14.1% |
| Deferred charges and accrued income | 490/1 | €1,273 | €2,988 | +€1,715 | +134.7% |
| Total equity and liabilities | 10/49 | €1,414,607 | €1,487,747 | +€73,140 | +5.2% |
| Equity | 10/15 | €1,364,523 | €1,450,147 | +€85,624 | +6.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €817,393 | €903,017 | +€85,624 | +10.5% |
| Distributable reserves | 133 | €817,393 | €903,017 | +€85,624 | +10.5% |
| Profit (loss) carried forward | 14 | €528,580 | €528,580 | = | 0.0% |
| Amounts payable | 17/49 | €50,084 | €37,600 | -€12,484 | -24.9% |
| Amounts payable within one year | 42/48 | €50,084 | €37,600 | -€12,484 | -24.9% |
| Financial debts | 43 | €15,562 | €19,737 | +€4,175 | +26.8% |
| Credit institutions | 430/8 | €15,562 | €19,737 | +€4,175 | +26.8% |
| Trade debts | 44 | €4,471 | €2,143 | -€2,328 | -52.1% |
| Suppliers | 440/4 | €4,471 | €2,143 | -€2,328 | -52.1% |
| Taxes, remuneration and social security | 45 | €30,051 | €15,720 | -€14,331 | -47.7% |
| Taxes | 450/3 | €30,051 | €15,720 | -€14,331 | -47.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,934 | €42,820 | -€114 | -0.3% |
| Other operating charges | 640/8 | €6,027 | €5,911 | -€116 | -1.9% |
| Gross operating margin | 9900 | €175,884 | €176,777 | +€893 | +0.5% |
| Operating profit (loss) | 9901 | €126,923 | €128,046 | +€1,123 | +0.9% |
| Financial income | 75/76B | €26,111 | €1,122 | -€24,989 | -95.7% |
| Recurring financial income | 75 | €26,111 | €1,122 | -€24,989 | -95.7% |
| Non-recurring financial income | 76B | €26,111 | €1,122 | -€24,989 | -95.7% |
| Financial charges | 65/66B | €9,856 | €1,536 | -€8,320 | -84.4% |
| Recurring financial charges | 65 | €9,856 | €1,536 | -€8,320 | -84.4% |
| Profit (loss) for the period before taxes | 9903 | €143,178 | €127,632 | -€15,546 | -10.9% |
| Income taxes | 67/77 | €47,503 | €42,008 | -€5,495 | -11.6% |
| Profit (loss) for the period | 9904 | €95,675 | €85,624 | -€10,051 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €95,675 | €85,624 | -€10,051 | -10.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.